Chaebols

Chaebols in relation with International Trade

In the context of trade organizations, Christopher Mark (1993) provided the following definition of Chaebols: South Korea's industrial conglomerates. The four largest chaebols are Hyundai, Samsung, Lucky-Goldstar, and Daewoo.

Chaebols in International Trade

Meaning of Chaebols, according to the Dictionary of International Trade (Global Negotiator): Korean industrial conglomerates characterized by strong family control, authoritarian management and centralized decision-making. The chaebol structure can encompass a single large company or several groups of companies. Each chaebol is owned, controlled or managed by the same family dynasty, generally that of the group's founder. Samsung, Hyundai and LG Group are among the biggest and most prominent chaebols.